How to Find Niche Ideas for Your Business

How you can come up with niche ideas for your business today on the Journey. – So when trying to determine your niche, think about a pain point, think about what is that one
thing that you are known for that you are so much better at than all of your competition
and just focus on that. That’s your niche.

There’s a famous saying out there that says you can’t boil the ocean, and it’s the same thing as a
freelancer with your products, you can’t serve everyone….

so finding a niche is finding a specific subset of your customers or the products that you offer
and just focusing on that. –

So you want to take a look at your skills and see what you’re really good at.

This should include some base knowledge and even some trends, things that are really popular in the market today. –

So let’s say that I make pottery and I offer everything you could ever want.

Well, let’s say the majority of my customers actually buy my vases ’cause I have a really cool design, and people love it, and it’s just the way that I do it is super unique, that’s my niche and that’s
what I should focus on. – Kinda like that scene in Ghost with Patrick Swayze on the pottery wheel.

So let’s say that I actually hate making those vases, that’s going to be a big problem because I’m gonna focus on a niche that I don’t enjoy at all, so you need to take a look at what your audience wants but also what you want to do and focus there. – So not just about the money, you really need to enjoy what you’re doing. –

So one thing that you can do when you’re determining your niche is you can create a persona
for who is your ideal customer. So let’s say my ideal customer, he’s an urban client, he’s aged 25 to 35, his name’s Billy, you know, let’s just give im a name and a face, and so I can use this and anytime that I’m developing a new product, I’m always relating it back to that customer that I am trying to serve, Billy. – So now you’re gonna need content. Content, content, and more content, but the content needs to be specific to this person that you’re after, – Billy!
– Billy! You will need to realize
what does Billy look for, and where is Billy looking for it. – Billy’s a young guy, he’s
probably not on MySpace right, don’t go there, maybe
not even on Facebook. Let’s say Billy, for the most
part, is only on Instagram, that’s good to know. – And another thing to think about is, how is Billy consuming this media. You want to think more
of just them blog posts, but you also have infographics,
tutorials, videos– – Podcasts. – Exactly. – So the next thing you want to do, and you actually should consider, is collaborating with other people in your industry and in your market. So if I make ceramics, I shouldn’t see everyone else who makes
ceramics as competition because I have my specific niche, they probably serve a different niche so it’s in our best interest
to partner and collaborate so we can get to each other’s markets and audiences and share the wealth. –

The key is consistency. What you put in it is definitely what you get out of it, and especially once you start to monetize like your website and your blog, it’ll make everything that you’re doing now so much worth it. With that being said,
check out our other videos where we talked about
some of these things, and creating a email signup
list, creating your own blog, we got you covered. We would love to hear from
you in the comments below some of your ideas of your business. – Be sure to like,
subscribe to this video, and hit that notification bell so you can be notified of our next video. And with that, until next
time, this is The Journey.